USDOLLAR Risk is Tightened on Bullish Bias
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“USDOLLAR broke lower from consolidation on Tuesday but completely retraced the move on Wednesday. Such action is typical of false breaks.”
-Another higher low is now in place at 10566. Look higher towards 10757 and 10812 as long as price is above 10566.
Trading Strategy: Long, risk is moved up to 10565 from 10535.
LEVELS: 10535 10566 10620 | 10693 10757 10812
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. Follow me on Twitter for real time updates @JamieSaettele
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.